sebi:WTM/ASB/WRO/WRO/19310/2022-23
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Facts / Headnote
Noticees held to have acted as unregistered investment advisers; jointly and severally directed to refund fees to complainants/investors/clients within three months via public notice and claim process, restrained from selling assets except for refunds, and debarred from securities market for 4 years or till completion of refunds, whichever is later.
Provisions invoked
- s. 19
- s. 12(1)
- s. 12
Regulations
- Reg. 3
- Reg. 3(1)
- Reg. 2(m)
- Reg. 2(l)
Parties
- Wishworth Financial Services
- Pankaj Khanchandani
- Dheeraj Kapoor
Holding
The Noticees acted as/hold themselves out as investment advisers without SEBI registration in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the Investment Advisers Regulations, and were directed to refund fees collected and debarred from the securities market for 4 years.
Full text
_____________________________________________________________________________________ Order in the matter of Wishworth Financial Services and its Proprietors–Pankaj Khanchandani and Dheeraj Kapoor
_____________________________________________________________________________________ Order in the matter of Wishworth Financial Services and its Proprietors–Pankaj Khanchandani and Dheeraj Kapoor
_____________________________________________________________________________________ Order in the matter of Wishworth Financial Services and its Proprietors–Pankaj Khanchandani and Dheeraj Kapoor
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Source: SecMarx — sebi:WTM/ASB/WRO/WRO/19310/2022-23. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.